| SESSION | FEB/MAR 2021 |
| PROGRAMME | MASTER OF BUSINESS ADMINISTRATION (MBA) |
| SEMESTER | I |
| COURSE CODE & NAME | DMBA105 – MANAGERIAL ECONOMICS |
| CREDITS | 4 |
| NUMBER OF ASSIGNMENTS , CREDITS & MARKS | 02 4 Credits, 30 Marks each |
Dear students, get latest Solved assignments by professionals.
Mail us at: help.mbaassignments@gmail.com
Call us at: 08263069601
Q 1. Define the term ‘managerial economics’. Explain scope of managerial economics.
Answer: Definition of Managerial Economics: Managerial economics is defined as the branch of economics which deals with the application of various concepts, theories, methodologies of economics to solve practical problems in business management. It is also reckoned as the amalgamation of economic theories and business practices to ease the process of decision making. Managerial economics is also said to cover the gap between the problems of logic and problems of policy.
Managerial economics is used to find a rational solution to problems faced by firms. These problems include issues around demand, cost,
Q. 2. Define demand. Explain different elasticity of demand.
Answer: Demand: Demand is an economic principle referring to a consumer’s desire to purchase goods and services and willingness to pay a price for a specific good or service. Holding all other factors constant, an increase in the price of a good or service will decrease the quantity demanded, and vice versa. Market demand is the total quantity demanded across all consumers in a market for a given good. Aggregate demand is the total demand for all goods and services in an economy. Multiple stocking strategies are often required to handle
Q 3. Explain different types of cost.
Answer: Types of cost:
Fixed Costs (FC): The costs which don’t vary with changing output. Fixed costs might include the cost of building a factory, insurance and legal bills. Even if your output changes or you don’t produce anything, your fixed costs stay the same. In the above example, fixed costs are always £1,000.
Variable Costs (VC): Costs which depend on the output produced. For example, if you produce more cars, you have to use more raw materials such
Dear students, get latest Solved assignments by professionals.
Mail us at: help.mbaassignments@gmail.com
Call us at: 08263069601